RadioShack is reportedly entering the cryptocurrency space
By Bob Garcia
Once a leading tech retailer, RadioShack wants to find new ground in crypto
After twice filing for bankruptcy, RadioShack, the company that emerged as an electronics retailer, is looking to venture into decentralized finance. The company confirmed that it will venture into decentralized finance (DeFi), the sector of blockchain-based protocols that allow the exchange of funds without intermediaries. It has become one more well-known company that has decided to enter the cryptocurrency space in order to re-emerge with significant operations.
In this regard, the RadioShack website now promotes a partnership with Atlas USV (Universal Store of Value), a DeFi protocol that allows you to create applications within this network. RadioShack aims to venture into the crypto world with the creation of a decentralized exchange (DEX) platform, based on Uniswap or Sushiswap that is operated with liquidity funds. This model allows token users to exchange directly with any other digital currency.
“The need for a bridge between the CEOs who control the world’s corporations and the new world of cryptocurrencies will most likely come in the form of a well-known, century-old brand. RadioShack is perfect,” RadioShack proclaims on its website.
RadioShack will launch its own token called RADIO. People interested in acquiring this digital currency can sign up for a pre-launch notification. However, the plan is to distribute ten billion units has not yet been disclosed nor has the platform that will distribute it.
While it is true that perhaps this news is not what investors were expecting, there is no doubt that it is really sparking interest. It will be quite interesting to see what DEX’s performance will look like at launch. So far, there doesn’t seem to be a release date set. In the meantime, users can sign up to receive notifications as the launch of the RADIO token approaches.